Staggering income Luton Town will earn in Premier League if they beat Coventry in Championship play-off final

It's a big weekend for Luton Town as the club prepares to take on Coventry City in the play-off final. It's been a remarkable rise for the Hatters having gone from League 1 promotion in 2019 to a Championship play-off semi-final just three years later and then one better with a ticket to Wembley Stadium in 2023.

It's set to be a close affair at Wembley Stadium with little to separate the two sides going into the clash. Luton Town shocked Sunderland at home in the semi-final earlier this month while Coventry also pulled an away win out the bag when it mattered most against Middlesbrough.

Promotion to the Premier League would mean a lot to Hatters' fans who would turn away days at Wigan and Blackpool into trips to Anfield and Old Trafford, but it would also mean a cash injection for the club.

According to the EFL, playoff winners can receive an additional £178 million from the Premier League over the following three seasons.

Should Luton Town win the play-off final on Saturday, and be relegated from the top flight 12 months later, the club would benefit from £85 million in parachute payments.

If Luton were to maintain their position in the Premier League for two seasons, the club would receive £59 million. There's also £34 million in merit payments for finishing in any more lofty Premier League positions.

There are also financial benefits that come from broadcasting in the top flight. All 20 Premier League clubs get a cut of the crazy sums being passed around to show games.

Half the money made in the domestic broadcasting deal is split evenly with each club, which came out at around £34.1 million last year. The other 50% of the money is split into two with half being allocated based on how many times a club is shown on TV and the other half on league position. In comparison, Championships clubs only receive around £8 million in TV rights income for a season spent in the second tier.

Luton face Coventry at 3pm this afternoon in London as they bid to join footballing elite in the Premier League.